Artificial Intelligence (AI) is getting a lot of buzz right now in the media. There was a panel about AI, but there seems to be as much concern about AI as there is excitement in the minds of the panelists. There was a lot of talk of needing to find ways of regulating it and building in breakers like breakers in your home electrical system.
Frank Luntz said that his polling is showing a growing sense of frustration and anxiety. He said that people are frustrated that they elect people who say one thing when they’re running and do just the opposite once they’re in office. The anxiety is that, for the first time, this generation believes that their children are going to have it worse off than they are. I can say that I’ve heard the same feeling of frustration and anxiety in the conversations I have with my clients.
Around the year 2005, a sudden spark will catalyze a crisis mood. Remnants of the old social order will disintegrate. Political and economic trust will implode. Real hardship will beset the land, with severe distress that could involve questions of class, race, nation, and empire. Yet this time of trouble will bring seeds of social rebirth.
I think that the financial, and corporate, world is in the midst of a sea change. This is a change in the way or environment that things operate so large that it does’t happen very often.
A well advised plan is so much more than just the dollars and cents. It’s about lifestyle and choices. We have made the choice to have experiences with our children as they grow up. We’re seeing things that most people don’t even know exist.
The Federal Reserve has a tough task ahead of them. Unfortunately, they have backed themselves into a tight corner over the last several years. As much as they want a “soft landing”, it’s becoming obvious that is not likely.